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to buy more than 1,000 u.s. dollars worth of gold you have to provide your income tax number. india say major buyer of gold. it is discouraging unaccounted for money moving into gold. i think with regards to commodities, there's a lot of uncertainty about chinese economic growth. if you look at steel production, cement production, it's barely growing in china. residential construction starts last year were down 11%. so i think there's a fundamental issue with commodities. they probably moved lower. there are assets much more interesting than commodities. >> mark, if this is a situation where as you suspect this is someone got in trouble, what happens to prices from here. >> well, if we go back down again and we have a big increase in margin calls again and then money has to be raised in the equity markets to offset losses in gold, then you're going to go down somewhere under you're going to rely on the margin. and cme released yesterday. >> anybody who says that deflation is once again on the table may have nothing to do with that whatsoever. >> i think you're right. i think someone or
. it lets bmw avoid painful 100% tax that india imposes on if finished cars into the country. that's latest from the fox business network, giving you the power to prosper david: well apple's stock fell to a 1-year low today as word came of delays in production of new products including the iphone 5 s and mini ipad ii. one of those reports about delays came from jeffries and company managing director peter misek. he came from apple's asian manufacturing centers. peter, joins us on the phone. peter, what do you think of the market reaction. do you think they overreacted to the your report? >> i don't think it was our report that drove it alone. our report came out yesterday and market digested it easily. i think it had a lot to do with confirmation that there was a slowdown in production. cirrus logic report worse than expected and guided down materially versus street expectations. we had industry publications out of asia talking about declines in ipad mini production of 20 to 30%. all triangulating on the same data which there is slowdown in apple's production. david: peter, you were actuall
places in europe, it's contracting. and in the united states, we have a tax code that is not designed to incent investment, which produces jobs and gdp growth, and hopefully we'll change that soon. >> international priority shipping saw a decline in what you charge per package to ship. what does that tell you about the global economy outside of the u.s.? >> well, i think what people are doing with the price of fuel, and this goes to larry fink's remarks a few moments ago, about the prospects for mexico, as it costs more to move goods, off a the price of fuel, they make price service trade downs, so our economy shipping was growing quite nicely. we simply have to adjust capacity and got a little out of phase with that. but it's not by accident that, again, referencing what larry said a couple years ago, we bought a wonderful company in mexico, which is now a big part of the fedex portfolio, because we believe there's be a lot of near shoring and the nafta trades will be quite strong. >> yeah, i am loving this mexico story. you're investing in mexico as well, really interesting. fred, l
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